Seniors and others who may not normally file income tax returns must do so this year if they want to receive an economic stimulus payment from the federal government.
More than 130 million U.S. households will receive the payment starting in May.
To be eligible for the payments, individuals must have a valid Social Security number and file a federal tax return showing a qualifying income of at least $3,000.
Social Security recipients and recipients of certain veterans’ benefits and railroad retirement benefits can count those benefits toward the $3,000 requirement. Supplemental Security Income (SSI) does not count as qualifying income, according to IRS information.
Filing a tax return is necessary, though, to obtain the payment ($300 or more for individuals, and $600 or more for joint filers).
For local seniors, the Frank P. Giannini, M.D., Senior Citizens Center offers tax form assistance.
“We’re doing that here. This is a service that we’ve done for years,” said Lindy Holloway, aging coordinator at the center.
The service is made available through Pennyrile Allied Community Services’ (PACS) Retired Senior Volunteer Program (RSVP), she said.
Retired individuals with experience in tax form preparation volunteer to assist others with their returns.
“A lot of seniors really don’t know that they can file,” Holloway noted.
Volunteers are available at the senior center, located off Market Street at Eagle Street, by appointment only from 9 a.m. to 2 p.m. Tuesdays and Thursdays.
To make an appointment, call the senior center at 365-7446.
Demand is high, though, Holloway warned. “Right now, we’re booked solid through the first of April … we’re trying to get more help.”
Volunteers can also assist seniors with preparing their regular income tax returns, she said.
Those who qualify for the economic stimulus payment will fill out a 2007 IRS Form 1040 or Form 1040A.
The stimulus payment is not taxable and will not affect the amount of Social Security benefits an individual receives, according to the IRS.
Recipients of Social Security benefits who did not file tax returns last year should receive information packets from the IRS late this month or early next month, if they have not received the packets already.
The packets will contain guidance to assist individuals in claiming the stimulus payment.
More information is available online at www.irs.gov.
The Economic Stimulus Act of 2008 was signed into law by President George W. Bush on Feb. 13.